💥Bitcoin, Congress & Elon Walk Into a Bar

📆 Week of June 16, 2025

🛰️Hey Nebulites,

The markets may look calm on the surface… but the undercurrents are wild.

From Elon turning X into a finance hub, to Washington pumping stablecoins like it's the new oil, this week delivered serious signals on where crypto's headed next — and who's trying to control it.

Let’s dive into the four stories shaking up the crypto-macro landscape:

📬 This Week’s Lineup:

1. Crypto sector rotation hits hard — Ethereum and staking services now lead in a clear “risk-off” pivot.

2. The Senate passes the GENIUS Act — but stablecoin backing with Treasuries could trigger systemic risk.

3. X (formerly Twitter) launches its Super App era — payments, investing, and yes… maybe Dogecoin.

4. Bitcoin treasury strategies go mainstream — even Trump’s company is loading up.

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🍃 Chapter 1: The top 5 best performing sectors

Last month, the market was partying like it just found out PepeCoin got listed on NASDAQ.

AI up 76%. Memecoins ripping 74%. NFTs pretending to be useful at +69%.
You get the idea — it was full-on degen season.

But now? Reality check.

Here are the top 5 best performing sectors over the past 30 days

Yup, even the winners are barely green. Welcome to the hangover.

• Rocket Pool saved the staking sector with a solo run — no clear catalyst, just vibes.

• ETH got its ETF glow-up. Since May 16, inflows hit $1.37B with only one red day.

• BTC is still the market’s safe-haven king, but it’s moving like your boomer uncle at a wedding dance. +2.1%? Yawn.

• WhiteBIT Coin shocked everyone with a 66% pump — thanks to a Juventus sponsorship. Apparently, football partnerships are a better catalyst than token utility.

• Privacy Coins hung in there despite the EU trying to cancel them like bad YouTubers.

🧠 Nebular Take

The vibe shift is real. High-risk sectors got kicked out of the club.
ETH, BTC, and staking services are the new bouncers at the door.

This is your reminder:
When the music stops, the smart money rotates into strength, not hype.

Stack. Chill. Repeat.

🇺🇸 Chapter 2: The US Just Passed a Huge Stablecoin Bill… But Is It GENIUS or Systemically Dangerous?

The GENIUS Act — short for Guaranteed Electronic Nationally Issued United States Stablecoins (yes, seriously) — just cleared the U.S. Senate with bipartisan support in a 68–30 vote. The crypto crowd is celebrating, but behind the scenes, economists and legal experts are sounding alarms.

On the surface, GENIUS looks like a win:

• Stablecoins must be backed 1:1 with U.S. dollars and short-term Treasuries

• Issuers must comply with AML rules

• Customers get clarity, and the U.S. dollar gets a demand boost

But critics say this could turn stablecoin issuers into shadow central banks, hoarding short-term Treasuries in a market that’s already showing signs of stress.

🧠 The Real Problem: Treasuries Aren’t Infinitely Liquid

Vanderbilt professor Yesha Yadav and ex-Fed official Brendan Malone warn that this law could destabilize the very market it leans on.

The logic: If a stablecoin issuer like Circle, with $60B in circulation, ever faced a redemption panic, it would need to dump Treasuries fast. But:

• Treasuries aren’t always liquid (remember March 2020? Or April 2025 after Trump’s tariff shock?)

• Banks and dealers are less willing to buy under stress

• Treasury market size hasn’t kept up with stablecoin growth

Circle alone might be fine. But if the stablecoin market balloons to $500B+ and multiple issuers face issues at once? Boom. Liquidity crisis.

🔍 What Happens Next?

The House now needs to reconcile GENIUS with its own bill (the STABLE Act). If it passes, we’ll get:

• National oversight from the Fed and OCC

• State-level regulation for smaller issuers

• Unresolved questions about how to actually coordinate all of this

Analysts say the bill helps short-term demand for Treasuries — but might distort U.S. debt policy and even change how the government funds itself over the long run.

🧠 Nebular Take

On paper, the GENIUS Act looks like a regulatory milestone. In practice? It risks fusing two fragile systems — stablecoins and Treasury markets — without much oversight or coordination.
This is bullish for short-term crypto legitimacy. But long-term? We’re watching the makings of a new kind of systemic risk, one that blurs the line between fintech innovation and macro instability.

🧪 Chapter 3: X (formerly Twitter) morphs into a fintech super app

Elon Musk is inching closer to his “everything app” vision.

This week, X CEO Linda Yaccarino revealed in a Financial Times interview that users will soon be able to invest and trade financial assets directly through X — while also using the platform to send money, pay for goods, and even reimburse a friend for pizza.

While she didn’t say which assets will be available, speculation is swirling around Dogecoin (of course), Musk’s favorite meme coin.

But wait, there’s more:

• X is also planning to roll out a debit/credit card

• A P2P payment platform called X Money is launching soon in the U.S.

• And there’s a new Visa partnership already in the works

This is all part of Musk’s goal to recreate China’s WeChat, where you can message, tip creators, shop, invest, and pay — all in one app.

Of course, moving into financial services comes with its own challenges. Regulatory scrutiny will likely increase, with AML/KYC compliance front and center. But that hasn’t stopped the momentum.

🧠 Nebular Take

If you think X is just a place to post memes and stalk your favorite crypto influencers, think again.
Musk is turning it into a one-stop shop for money, markets, and memes.
We’re watching closely to see if this becomes a meaningful on-ramp for retail crypto adoption — or just another Musk experiment with no follow-through. But if DOGE ends up integrated? Expect another retail frenzy.

🏦 Chapter 4: Why Companies Are Betting Their Treasury on Bitcoin

You know that moment when everyone suddenly wants to be MicroStrategy?
Yeah… we’re living it.

Over 100 companies that aren’t even crypto-native are now officially adopting Bitcoin Treasury Strategies — meaning they’re putting BTC on the balance sheet like it’s the new USD.

The goal? Replicate the 3,000% stock return of Strategy (formerly MicroStrategy), whose entire business model is now “buy Bitcoin, talk about Bitcoin, leverage debt to buy more Bitcoin.”

Let’s break it down 👇

📈 Who’s Doing It?

• Trump Media & Technology Group just raised $2.5 billion to buy BTC.

• Twenty One, a $3.6B joint venture between SoftBank, Tether, and Cantor Fitzgerald, wants a slice of Satoshi.

• SolarBank, a sleepy solar energy firm from Toronto, is hopping on the Bitcoin bandwagon to attract “tech-savvy investors.”

• Upexi, a consumer goods firm, decided to allocate to Solana instead, because why not spice things up?

In total, these corporate copycats have doubled their holdings in just two months and now collectively own close to 100,000 BTC.

🧐 Why Are They Doing This?

Because leverage.

Retail can’t tap convertible debt markets like companies can. Public firms — especially those with buzz — can raise cheap capital and print share price gains if Bitcoin goes up. As long as investors reward the behavior, CFOs will keep stacking sats.

There’s also the Trump effect.

His executive order from March created a "strategic Bitcoin reserve" and has turned the White House into a pro-crypto clubhouse. The result? Institutions are interpreting it as a green light to go full degen — responsibly, of course.

⚠️ What Are the Risks?

Let’s not get ahead of ourselves.
If Bitcoin drops below $90K, half of these treasury strategies are underwater, per Standard Chartered.

And as Charles Schwab pointed out: a liquidity crisis is only one price crash away. We’ve seen this movie before — and it ends with balance sheets in flames.

🧠 Nebular Take

There’s no denying it: BTC is becoming a macro asset — fast.
But betting your corporate treasury on it? That’s next-level conviction (or desperation).

We like the idea of long-term Bitcoin allocation — but companies doing it for headlines and short-term stock pumps might want to remember: the same leverage that fuels meteoric gains… also fuels spectacular implosions.

💡 Tip of the Week: Follow the smart money again and again

If companies are loading BTC on their balance sheets, maybe your portfolio should too — but don’t copy blindly.

Remember: they get access to cheap debt. You don’t.
Your edge = patience, risk management, and not needing to issue convertible bonds to impress shareholders.

🤡Memes of the week:

✅ Wrap-Up

This week made one thing very clear: the line between TradFi and crypto isn’t blurring — it’s disappearing.

Elon’s making X the next WeChat. Congress is regulating stablecoins like they’re systemically vital assets. Institutions and energy companies are stacking Bitcoin on their balance sheets. And even as price action stalls, sector performance shows capital rotating toward fundamentals.

We’re not just witnessing adoption — we’re watching a full merger of old finance with new rails.

Keep stacking signal. Cut through the noise.
Until next week — stay Nebular. 🌌

– Daniel
Founder, Nebular

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.